Advisors Asset Management Inc. Has $151,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

Advisors Asset Management Inc. raised its stake in TD SYNNEX Co. (NYSE:SNX) by 117.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,259 shares of the business services provider’s stock after acquiring an additional 679 shares during the quarter. Advisors Asset Management Inc.’s holdings in TD SYNNEX were worth $151,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hancock Whitney Corp grew its position in shares of TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 6,207 shares in the last quarter. Wedge Capital Management L L P NC grew its position in TD SYNNEX by 20.3% during the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after buying an additional 5,252 shares in the last quarter. Friedenthal Financial bought a new position in TD SYNNEX during the 2nd quarter worth $967,000. ClariVest Asset Management LLC increased its stake in TD SYNNEX by 45,552.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock worth $1,897,000 after acquiring an additional 16,399 shares during the period. Finally, Tidal Investments LLC raised its holdings in TD SYNNEX by 55.7% in the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock valued at $1,980,000 after acquiring an additional 6,265 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Down 0.7 %

NYSE:SNX opened at $118.99 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The firm’s 50 day simple moving average is $119.22 and its 200 day simple moving average is $119.65. The company has a market cap of $10.12 billion, a PE ratio of 15.39, a P/E/G ratio of 1.21 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. On average, research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s payout ratio is 20.70%.

Analysts Set New Price Targets

SNX has been the topic of a number of recent analyst reports. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Barclays boosted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Transactions at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 5,653 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the transaction, the chief financial officer now owns 38,279 shares in the company, valued at $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock worth $8,414,329 over the last ninety days. 1.90% of the stock is owned by insiders.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.